Singapore Airlines 2016 Annual Report Download - page 72
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Compensation Risk Assessment
Under the Code, the compensation system should
take into account the risk policies of the Company,
be symmetric with risk outcomes and be sensitive
to the time horizon of risks. The BCIRC has reviewed
the various compensation risks that may arise and
introduced mitigating policies to better manage risk
exposures identified. The BCIRC will also undertake
periodic reviews of the compensation related risks
in future.
Pay-for-Performance Alignment
In performing the duties as required under its BCIRC
Charter, the BCIRC ensures that remuneration paid to
the CEO and Relevant Key Management Personnel is
strongly linked to the achievement of business and
individual performance targets.
Rates ($)
Board Retainers Board Member
Chairman’s all-in-fee
Deputy Chairman
90,000
750,000
160,000
Committee Retainers Chairman of Executive Committee and Audit Committee 60,000
Chairman of Safety & Risk Committee and Compensation and
Industrial Relations Committee
45,000
Member of Executive Committee and Audit Committee and
Chairman of Nominating Committee
35,000
Member of Safety and Risk Committee and Compensation
and Industrial Relations Committee
25,000
Member of Nominating Committee 20,000
Attendance Fees Home – City 5,000
In – Region 10,000
Out – Region 20,000
Teleconference – normal hours 1,000
Teleconference – odd hours 2,000
The performance targets as determined by the BCIRC are
set at realistic yet stretched levels each year to motivate
a high degree of business performance with emphasis on
both short- and long-term quantifiable objectives.
A pay-for-performance alignment study was conducted
by the appointed external remuneration consultant
and reviewed by the BCIRC. It was found that there
was suicient evidence indicating pay-for-performance
alignment for the Group in both absolute and relative
terms, against a peer group of large listed airline
companies for the six-year period from FY2009/10 to
FY2014/15.
Directors’ Fees
The Directors’ fees paid in FY2015/16 amounted to
$1,993,333 (FY2014/15: $1,544,727) and were based on
the following rates:
Corporate
Governance Report
(continued)
Singapore Airlines70
PERFORMANCE